Supplement - Routines of Bookkeeping Flashcards
1
Q
What are some of the typical daily routines
A
Receiving Mail
Distribution of Documents
Entering Purchase Invoices
Entering Sales Invoices
Making Deposits
Issuing Checks
Payroll
2
Q
What are Some Monthly Routines?
A
Monthly Remittances
Posting and Balancing
3
Q
What is Receiving Mail?
A
It’s to check to see if any checks or invoices are in the mail and without this process, documents could be misplaced or not handled until they become critical.
4
Q
What is Distribution of Documents?
A
it’s when a Document is stamped by a specifically design stamp for the company
5
Q
What stamp is put on all checks received by the company?
A
For deposit to the credit of XY Consumer Products
6
Q
What kind of Monthly Remittances are due?
A
Payroll deductions, Provincial Sales Tax, and Goods and Services Tax
